Economic Update with Richard D. Wolff cover image

Inflation - How Markets Fail

Economic Update with Richard D. Wolff

00:00

We Don't Use Market Exchange

Many of the largest corporations have gotten large by what we call vertical integration. They bought the company from whom they used to buy something, and they brought it inside the corporation. Don't be fooled. The market is a sometime institution. It's got as many flaws as virtues. And nobody should ever allow someone to tell you it's a perfect mechanism. Leave it to the tiny minority of employers to do what they want for their profit, and the rest of us pick up the chips wherever they fall. That's what celebrating the market is really about.

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